Gilead Sciences (NASDAQ:GILD) Issues FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.45-3.85 for the period, compared to the consensus EPS estimate of $3.91. Gilead Sciences also updated its FY 2024 guidance to 3.450-3.850 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Cantor Fitzgerald cut their target price on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a research note on Wednesday, February 7th. Mizuho dropped their price objective on Gilead Sciences from $101.00 to $90.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley dropped their price target on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating on the stock in a research note on Friday. Truist Financial lowered Gilead Sciences from a buy rating to a hold rating and decreased their price objective for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. Finally, TD Cowen decreased their price objective on Gilead Sciences from $90.00 to $85.00 and set a buy rating on the stock in a report on Friday. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences has an average rating of Hold and an average price target of $83.87.

Gilead Sciences Price Performance

Shares of GILD stock traded up $0.15 on Friday, hitting $65.42. 12,382,425 shares of the company’s stock were exchanged, compared to its average volume of 6,443,315. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. Gilead Sciences has a 12 month low of $64.63 and a 12 month high of $87.86. The stock has a market cap of $81.45 billion, a P/E ratio of 181.72, a price-to-earnings-growth ratio of 1.17 and a beta of 0.19. The company has a 50 day moving average of $71.28 and a 200 day moving average of $76.25.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 23.08% and a net margin of 1.76%. Gilead Sciences’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. On average, equities research analysts predict that Gilead Sciences will post 3.82 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s payout ratio is presently 855.56%.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.